Barnwell Industries raises $2.4M via PIPE at $1.10/share; appoints new director

BARNWELL INDUSTRIES INC

Raised ~$2.4M by selling 2.2M shares at $1.10 each in a private placement led by Bradley Radoff.
Certain purchasers receive warrants to buy one share per two shares at $1.65; exercisable in 180 days for 3 years.
Closing expected Nov 28, 2025; proceeds for general corporate purposes as company exits water well drilling.
After closing, Joshua Schechter will join the board as nominee of lead investor Radoff.
Company plans to file a resale registration statement within 45 days post-closing.

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